Italian Restaurant in North London For Sale

Situated in a parade, excellent trading position, commercial area, NW LONDON

Turnover £ 9,000
Price £150,000

Features

Well Fitted Italian Restaurant

5 STAR HYGIENE RATING

DOUBLE FRONTED PREMISES WITH ELECTRIC SHUTTERS, wood strip floor, ceiling with spot and hanging lighting. Bar, EPOS till, drinks display fridge (glass fronted upright double-door), Tables and chairs providing seating for 50 People, wood fired pizza oven, CCTV system (7 cameras, 1 monitor).

Kitchen, stainless steel extractor unit, Gas 6-burner Cooker, pasta cooker, microwave, double sink and drainer, preparation tables, 2 fridge, 4 freezer, dishwasher.

Ladies' & gentlemen's Toilet with w.c. and wash hand basin.

3 Store rooms.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £8,000 - £10,000 p.w. with a Gross profit of 65% approx. (40% DELIVERIES)

Staff

The business is at present operated by the vendor with 5 full time and 3 part time staff.

Trading Hours

7 Day week
MONDAY - SUNDAY 11am - 11pm

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 15 years in 2023 with reviews every 5 years (next review 2028) at a current rent of £32,000 p.a.

Business Rates from April 2024 £3,200 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2023, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £150,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 75,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote